Today, I’m excited to announce our $3.1 Million seed extension funding round led by Evolution Equity Partners with backing from existing investors Betaworks, BDC, Good News Ventures, Two Small Fish Ventures and North Spring Capital.
This funding round is an addition to our initial seed round in early June 2017, which brings our total investment to $5.2M. We believe that this funding round will help us achieve our goals of growing out our product roadmap and expanding our presence in both the European and US markets -- not to mention give us the ability to bring more great talent to our team!
I first met the Evolution Equity team in Lisbon Portugal at WebSummit in October last year. While the Zoom.ai team met with more than a dozen different VC firms at the event, we were immediately impressed with Dennis and Richard, Evolution’s two lead partners and their attention to detail and focus on their investment criteria. We realized very quickly that our vision of the #FutureOfWork was the same.
Over sushi dinner one evening, we both knew that we would be working together in the near future. This was confirmed when the day after coming back to Toronto after the WebSummit event, Dennis and I had our first of many transAtlantic calls to discuss the funding round.
Dennis Smith will be joining our board of directors and bringing his wealth of operational and sales experience in the enterprise space. I’m elated to be working with him and his entire team at Evolution Equity Partners, an international venture capital firm based out of New York City and Zurich, Switzerland. Their firm has a focus on cyber-security, enterprise software and consumer related opportunities and brings significant resources to portfolio companies seeking to expand in international markets. They have invested in well-known companies including AVG Technologies, OpenDNS, Carbon Black, and others -- many having successful high-profile exits.
The team at Evolution is traditionally a series A growth investor, but thanks to our mutual vision, we both saw potential in working alongside one another for this extension round and into the future. Working together, we are uniquely placed to provide enterprises with a stronger, more secure productivity solution.
Just as we are excited what the future holds for enterprise companies and the future of work, we’re excited to see where this journey will take us, and what new and innovative tools we can bring to the workplace.
We couldn’t have gotten here without the great team that we have at Zoom.ai. While we work hard on building solutions for the Future of Work, we work just as hard on building the best work environment that we want to work everyday in. With this funding, we are expanding our great team! Please visit our careers page to see if you or someone you know would love to work with us.
Read the official announcement.